“But since the crisis British performance has been dismal. Although productivity jumped in the third quarter of 2017, prolonged weakness means that it is barely higher than its pre-crisis peak a decade ago.”
Wow, talk about framing expectations. First, markets hate uncertainty. However temporary, any transition — even an openly positive one — is certain to cause a decline. Second, so the economy has been catastrophically weak since they day the U.K. joined the EU? Gee, I think that’s just what we were talking about, yet this writer cleverly makes it sound like both the 10-year slump is caused by Brexit — prophetic Brexit, apparently — but that Brexit is the driver DOWN, while joining the EU 10 years ago was awesome, and who wouldn’t want that? I mean, it only caused the complete stagnation of ALL GDP, in ALL nations except Germany during its entire history, AND crushing Spain, Portugal, Italy, Greece, Ireland, and Eastern Europe to boot. What’s not to like?
Seriously, be careful with words. 10 years stagnation, uh-huh. And look at the next article: this 10 year stagnation put consumers in the Christmas “sweet spot” in 2016. Funny, I don’t remember reading 2016 was a great shopping season, in the U.K. or here. In fact they were quite concerned about itfor some reason.
Brexit Prophesy Disorder I suppose.
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